Speaking at the recent NEXT.io event in Valletta, former 888 Holdings CEO, Itai Pazner, shared insights on fostering innovation within iGaming.
Pazner emphasised the transformative role of AI and the challenges of maintaining a start-up mentality within large corporations. Having led 888 Holdings, a tech-driven gaming operator with roots in Israel’s start-up community, Pazner has a unique perspective on innovation in large corporations.
“888 began as a tech company, deeply embedded in innovation,” he noted.
“Our founders were tech enthusiasts, so innovation was part of our DNA.”
This foundation enabled 888 to pioneer in-house platforms and data-driven marketing strategies, maintaining a culture of innovation despite increasing regulatory demands across 19 jurisdictions.
Pazner says: “Balancing innovation with regulatory compliance was challenging. We had to allocate significant resources to adapt our platforms while fostering innovation.”
This dedication resulted in new products like the Orbit casino platform, featuring AI-driven game recommendations and gamification.
“We invested in innovation, even as poker declined industry-wide, launching a new poker product that thrived during the pandemic.”
Reflecting on his tenure, Pazner emphasises the need for continual innovation, saying: “We always aimed to innovate more, but regulatory demands required careful resource allocation.
“Recently, innovation in compliance and responsible gaming has gained importance, enhancing customer experience despite regulatory challenges.”
In advising growth-stage companies, Pazner highlights the need for founders to adapt as their companies scale.
“Founders must transition from hands-on involvement to influencing through structured management.
“Creating clear managerial structures and long-term plans is crucial for sustainable growth.”
Pazner also discusses the potential for large operators to collaborate with start-ups for innovation: “Companies not rooted in technology must adapt by partnering with disruptive start-ups,” he advises.
“AI presents an opportunity for all to innovate rapidly. Embracing AI is crucial, as it will significantly impact productivity and operations.”
As the conversation with NEXT.io shifts to AI’s transformative potential in iGaming. Pazner states: “AI is the imminent future, akin to the internet’s rise 30 years ago. Companies must adapt quickly, integrating AI into their business models to remain competitive.”
He predicts a divide between AI-native startups and incumbent companies, urging the latter to incorporate AI tools across all business functions.
“Large companies should acquire AI-led start-ups and adapt their platforms to this new reality. Time is of the essence; companies should act now to harness AI’s potential.”
